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<br /> � � 97�06605 �; � _
<br /> I' S.HAZard or Property I nsurAnce. Borrower shall kcep�hc improvcments now existing on c�rcafter crcctcd on thc Propeny ; „�.,�_
<br /> j insurcd against loss by fuc, ha�Ards Includcd within thc ccrm"cxtendcd covcrngc" and any othcr ha•r.ards, including flc�ods or � ;'�..
<br /> � flooding,for which Lenda requ'ues insurancc.This insurancc shall be maintained'►n�he amounts and f�r the periods that Lcnder � --
<br /> � requires.7T►e insurance c:arrier pruvi�tu�b t,�e Ir�s�,:,nce :�ha!'-�cho�Fn bY g�n^wer cubiect to Lender's approval which shnll nol '_
<br /> bc unrcasonably withhcld. If Borrowcr Cails to maintain covcragc dcscribed abo�e, Lender may, at Lender's opuon. obtnin i `.��..:
<br /> ' coverege w protect Lender's rights in the Property in accordance with paragraPh 7. n��`-__
<br /> �•��^"�` All insurance policies and renewals shall be acceptable to Lcnder and shall include a standard mongage clause.l.ender s�hsill ��:�;��`-
<br /> --' "'"� have the cight to hold the policies and renewals. If Lender requires,Burrower shall prompdy give to Lender all receipts of ps�id V,:,,�,,,.:
<br /> premiurns and rencwal nopces.In thc cvent of loss,Borrowcr shall give prompt notice to the insurance carrier ana I.ender.Lendcr ;.;�:2:�=
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<br /> may makc pmof of loss if not made prompdy by Borrower• ':1�.;'==
<br /> Unlcss Lender and Borrower otherwisc agree in wriang,insurance prceeeds shall be appGed to reswrauon or repair of�he _„x.,._.___
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<br /> Property damagcd,if the restoration or repair is economically feasible and Lender's security is not Icssened. If the restoration or .�
<br /> ' repair is not economically fcagible or Lender's securi�y would bc lessened,the insurance proceeds shull be applicd to thc sums ��-__
<br /> securcd by this Security Insmtmcnt, whcthcr or not then due, with eny excess paid to Bonower. If Borrowcr abandons the �`y__^
<br /> Property,ar does not answer within 30 dnys a notice from Lender that the insurence carrier has offered w setde a claim,�hen �:�
<br /> " Lcndcr may collcct thc insurancc procccds.Lcndcr may usc thc procccds w rcpair ar restorc thc Property or to pay sums sccurcd �__
<br /> ll by this Sccurity Inswmcnt,whcthcr or nat thcn duo.Tho 3Q•dey period will bc8in whcn thc nodcc is givcn, j,
<br /> Unlcss I.cndcr and Borcowcr othcrwiso agrcc:in writing,any app lication a f p r c x:c,�;ds to princi p�l�shall not cxtcr►d or postpone ':
<br /> ; �%;�.
<br /> thc duc datc of tho monthly paymcni.v rafcrrcd w in pa�egraphs 1 and 2 or chnngc tha emount of thc paymcnts.lf undcr paragraph
<br /> 21 the Pro{x:rry is ucc�uireci by l.endc�,Bnrrower's right to ony tnsursu�ce policies and praceeda resulting from dumage to the Ty
<br /> Yroperty prior to thc ac:quisition ehull puss to L.cndcr w ihc cxtcnt of the sums sccured by this Sccurity lnswment immcdiau:ly `.�:u
<br /> `� prior to thc acquisiuon. Borrower's Loan Application;Leaseholds. __-
<br /> 6.Occupancy,Preservs�tbn,Maintenunce pnd Protectbn ot the Property; --
<br /> Borrower shall occupy.establish,and use the Froperty as Barrower's principul restdence within sixty duys after the execution of __ _
<br /> �'_ U�is Security Instrumant and shall continue to occupy the Propercy as Borrower's principal residence for at least one ycar after the
<br /> datc of occupancy, unlcss Lendcr otherwisc agtees in writing. which consent shall not be unrcasonably withheld, or unless
<br /> extenuadng circumstenees exist which are beyond Borrower's control.Boaower shall not desaoy.demago or impair ihe Property,
<br /> allow the Property to dcacrioratc, or commit wastc on thc Property. Borrower shaU ba in dcfault if any forfoiture ac6on ar
<br />-__- _ -_ �rcx,cecling,whcthcr civil or criminal,is bcgun that�n iendcr's good fuiih jud�rieni conld result ics fczf'ea:ssre L+f i.hr pinmrty�t ,
<br /> otfi�enylse matcrially impalr the lien crcated by this Securaty lnstrumcnt or I.ender's security interes�Sarower may cure su�h a
<br /> default end reinstata, as provided in paragraph 18, by cavsing t�e act+on or procecdfng to bc dlsmisscd with a ruiir.�g tha�,in
<br /> Lender's good faith determination,precludes forfeiture of�hc Horrower's interest in thc Property or other material impa'vmer.t of
<br />- the lien created by this Securiry Instrument or Lender's securiry incerest Borroaer shall also bu in default if Bamwer,durircg ti`be
<br /> ;oan applicadon process,gave materially false or inaccurate informatian or statements w Lender(or failed w pravide l.ender with
<br /> rs• - any materlal information) in connecdon with the loan evidenced by the Note, including, but not limited to, representadans
<br />_' ' concerning Boaower's occupancy of the Properey as a principal residence.If thia Security Instrument is on a Ieasehold,Barower
<br /> 1" ' • ':° shall camply with aU thc provisions o�the lease.It Borrower scquires fee tide to the Property,the lcas�hold ar.d the fee ddc sl�ail
<br />,�. . � not mcrge unless Lender agrces to the merger in writing.
<br />�• . � 7.Protcetion of Lender's Rights in the Property. If Borrc�wer fails to perform the covenants and agrcemea�s contsw�ed in
<br />'� � ����'� this Security Instrument,or there is a Iegal procecding that may significantly affect Lender's rights in the ProperYy (such as a
<br />_-?.j- �-hM ' proceeding in bankcuptcy,probate.for condemnauon or forfeiture or w enforce laws or reguladons),then I..ender may do and pay
<br /> � " �"""" for whatever is necessary Lo pratect the value of the Property and L.ender's rights in the Pcopercy.L+ender's acuons may include
<br />_ ' paying a�iy sums secured by a lien which has priority ovu this Secarity Instrument, appearing in co�ut.PaYin8 reasonable
<br /> =° . auomeys' fees and cntering on the Property to m�ice repairs.Although Le�►der may take action under this pazagraph 7,Lender
<br />- docs not have to do so.
<br /> i • Any amounts disbursed by Lender under this paragraph 7 shall become additional debt af Boaowet secured by this Security _
<br /> �-,;;�^�;.� InstrumenG Unlcss Borrowcr and Lendcr agrce to other terms of payment,these amounts shall bcar intcrest f�m thc datc of
<br /> 3-.''�"""'""� disbursemcnt at thc Note ratc and shall be payable,with intemst.upon noUcc from Lcndcr to Borrawcr requesting paymenG
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<br /> . ' .� 8.Mortgage Insurance. If Lender mquired mongage insurnnce as a condition of making the loan secured by this Security
<br /> =*� " Instrument, Bonowcr shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> �� • moctgage insurance coverage rcquired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to
<br /> obtain coverage substantialty equivalent w the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br />_ �. cost to Borrower of thc rnortgage insurance previously in effect, from en alu:mate mortgage insurer epproved by I.ender. If
<br /> . stibstantially equivalent mongage insurance coverage is not available,Borrower shall pay to Lender each month a sum equa! to
<br /> on�twelfth of the yearly rnongagc insurance premium being paid by Borrower when the insurance coverage lapsed or ceased m `_ .
<br /> �1 be in effecG I,ender will accept, use and retain these payments as a loss rese►ve in lieu oF mortgage insurance. Loss reserve �"`_`.°-�_
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<br /> Form 302b �/�0 ,�.n�rtic.'
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